MakeMyTrip (NASDAQ:MMYT) Issues Quarterly Earnings Results, Beats Estimates By $0.38 EPS

MakeMyTrip (NASDAQ:MMYT) released its earnings results on Monday. The technology company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.38, FiscalAI reports. MakeMyTrip had a net margin of 4.96% and a return on equity of 2,304.78%. The company had revenue of $285.58 million for the quarter, compared to analyst estimates of $292.14 million.

MakeMyTrip Price Performance

Shares of NASDAQ MMYT opened at $56.95 on Monday. The stock has a market capitalization of $5.36 billion, a PE ratio of 227.80 and a beta of 0.98. The firm has a fifty day moving average of $50.48 and a 200-day moving average of $50.89. MakeMyTrip has a 52-week low of $32.67 and a 52-week high of $104.43.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MMYT. Wall Street Zen downgraded shares of MakeMyTrip from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Zacks Research raised shares of MakeMyTrip from a “strong sell” rating to a “strong-buy” rating in a research note on Monday, July 20th. Citigroup reissued a “buy” rating on shares of MakeMyTrip in a research note on Tuesday, May 19th. HSBC initiated coverage on MakeMyTrip in a research report on Thursday, July 2nd. They set a “buy” rating and a $70.00 target price on the stock. Finally, The Goldman Sachs Group set a $84.00 price objective on shares of MakeMyTrip in a research note on Saturday, June 27th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, MakeMyTrip presently has a consensus rating of “Buy” and an average target price of $86.75.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MMYT. Deutsche Bank AG increased its stake in MakeMyTrip by 34.8% during the fourth quarter. Deutsche Bank AG now owns 66,030 shares of the technology company’s stock worth $5,422,000 after acquiring an additional 17,064 shares during the last quarter. Hudson Bay Capital Management LP lifted its stake in shares of MakeMyTrip by 875.0% in the 2nd quarter. Hudson Bay Capital Management LP now owns 39,000 shares of the technology company’s stock valued at $3,823,000 after purchasing an additional 35,000 shares in the last quarter. Carmignac Gestion acquired a new position in shares of MakeMyTrip in the 4th quarter valued at about $1,806,000. Squarepoint Ops LLC purchased a new stake in shares of MakeMyTrip during the 3rd quarter worth about $1,733,000. Finally, Clough Capital Partners L P acquired a new stake in MakeMyTrip during the 2nd quarter worth approximately $1,731,000. Institutional investors and hedge funds own 51.89% of the company’s stock.

MakeMyTrip Company Profile

MakeMyTrip Inc is an online travel company that provides a comprehensive suite of travel products and services through its website and mobile app platform. The company’s offerings include air ticketing, hotel reservations, holiday packages, rail and bus ticket bookings, ancillary travel services such as travel insurance and visa assistance, and corporate travel management solutions. By leveraging technology-driven platforms, MakeMyTrip aims to deliver convenience, competitive pricing, and a seamless booking experience for both retail and business customers.

Founded in June 2000 by Deep Kalra, MakeMyTrip has grown to become one of India’s leading travel technology firms.